Processor of coking coal to produce metallurgical coal, Rocklands Richfield Ltd
(ASX:RCI) says it has received a sweetened takeover offer from India’s Jindal Steel & Power Ltd, matching a revised offer from China’s Meijin Energy Group.
The Indian steel company is now offering 56 cents per Rocklands Richfield share and 6 cents per Rocklands Richfield option with an exercise price of 50 cents.
The increased offer comes after China’s Meijin revised its proposal for the company.
Rocklands says its directors are now assessing the revised offer from Jindal and Meijin’s increased offer and says it will keep shareholders informed of material developments relating to the two offers.
Rocklands Richfield posted a loss in fiscal 2009.
